Business News Today
Alphabet Overtakes Apple in Market Cap
This morning – January 8, 2026, Alphabet (Google’s parent company) surpassed Apple to become the world’s most valuable publicly traded company for the first time since 2019. Alphabet’s market capitalization briefly exceeded Apple’s by several billion dollars during trading, driven by surging investor confidence in its AI initiatives and cloud computing growth. Strong quarterly results in advertising, YouTube, and Google Cloud, coupled with advancements in Gemini AI models, fuelled the share rally. Apple’s shares, meanwhile, faced pressure from slower iPhone sales growth in key markets and concerns over supply chain disruptions. The shift highlights the ongoing rotation toward AI-dominant tech giants, with Alphabet benefiting from broader enterprise adoption of its AI tools. Analysts note this milestone is indicative of the intensifying competition in artificial intelligence developments between the two tech titans.
U.S. Plans Control Over Venezuelan Oil Sales to Reduce Oil Prices
The U.S. government is advancing plans for comprehensive oversight of Venezuelan oil exports, announced today, as part of efforts to stabilise global energy markets. The initiative aims to redirect Venezuelan crude sales through U.S.-approved channels, increasing supply and targeting a $50-per-barrel price range. Building on recent sanctions relief, the measures seek to counter OPEC+ production constraints while ensuring revenues bypass the Maduro regime’s direct control. Energy officials cited national security and consumer relief as priorities, with potential involvement of U.S. firms in distribution. The policy has drawn criticism from Caracas and raised geopolitical tensions, but supporters argue it could ease inflation pressures. Implementation details remain under negotiation, with initial impacts expected on Brent and WTI benchmarks in coming weeks.
Ford Plans Hands-Free/Eyes-Off Driving Tech
Ford Motor Company unveiled ambitious plans on January 8, 2026, to introduce true hands-free and eyes-off autonomous driving technology in an affordable $30,000 electric vehicle by 2028. Building on its BlueCruise system, the next-generation feature promises Level 3+ autonomy, allowing drivers to disengage completely under certain conditions. The initiative targets mass-market adoption, competing directly with Tesla’s Full Self-Driving and GM’s Super Cruise. Ford emphasized extensive sensor suites, advanced mapping, and over-the-air updates to ensure safety and reliability. The announcement comes amid regulatory progress on driverless standards and aims to revitalize Ford’s EV lineup amid intensifying competition.
Breaking News Shorts:
- Platinum futures fell back below $2,300 per ounce yesterday, retreating from near record highs as investors engaged in profit taking amid a broader selloff across the metals markets. Commodities also came under pressure from a firmer dollar as traders awaited a heavy slate of US economic data
- AI startup Anthropic announced a landmark $10 billion funding round today, valuing the company at an astonishing $350 billion. Led by major venture firms and strategic investors including Amazon and Google, the infusion reflects explosive demand for safe, frontier-level AI systems.
- European stock indices closed marginally lower yesterday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB’s policy this year. The Eurozone’s STOXX 50 and the pan-European STOXX 600 both inched down by 0.1% from their respective record highs in the previous session.
- Botswana, Angola and Namibia – all major diamond producers – have expressed interest in acquiring equity in De Beers, alongside “a number of business-led groups,” CEO Al Cook said yesterday, stopping short of commenting on the status of talks or the names of some of the interested parties.
- Silver futures dropped below $77 per ounce this morning, extending losses from the previous session as the bullish momentum that had driven precious metals toward record levels earlier this week began to fade. Prices also retreated as the dollar strengthened
Markets by Numbers
Currency markets indicate the US dollar fairly flat today, with the Euro trading against the US dollar at 1.16812 while the Pound is trading at 1.34577 to the US dollar. The Yen is currently trading at 156.65 to the dollar. The rand (ZAR) has weakened further and currently trading at around R16.48 to the dollar.
Commodities:
- Gold futures are currently down -0.8% this morning, and currently selling at around $4420.42 per ounce.
- Copper prices are trending -0.8% lower today, with prices currently around $5.7654 per pound
- Silver futures are sliding further today, down -2.17%, and trading around $76.094 per ounce.
- Platinum futures continue its downward trend this morning, down by over -4% already today, and currently trading at $2206.00, While Palladium prices are trending lower – down by -2.9% this morning, and currently trading around $1758.00 per ounce.
- Brent crude oil prices are trending 0,5% higher today, and currently at $60.26 with WTI trading at $56.25
- Cocoa futures are trending -0.6% lower today, and currently trading around $5915.00 per ton.
- Coffee futures are currently marginally higher and trading at around $3.7425 per pound
Crypto Currencies:
- Bitcoin prices are trending -0.6% lower this morning, and trading at around $90748 per coin currently
- Ether prices are trending -0.8% lower today, and are currently trading around $3139.50
- $Trumpcoin are trending lower today, and currently trading around $5.388
(All prices quoted at approximately 07H55Central African Time)
Africa News Briefs:
- A potential coup and a plot to kill Burkina Faso’s military leader, Capt Ibrahim Traoré, has been averted, according to the ruling junta’s security minister Mahamadou Sana.The attempt had apparently been planned by Lt Col Paul Henri Damiba, the military officer who had been ousted by Traoré in September 2022.
- South Africa has softened its anti-competitive regulations to allow firms battling high power costs to jointly build energy infrastructure and collectively negotiate supply contracts.South Africa’s trade minister Parks Tau said in a government notice published yesterday that the new measures were meant to assist distressed industries.
